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Global Business News

The Economic Times

Global Business / The Economic Times

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US, Iran keep up hostile rhetoric ahead of new sanctions

New United States sanctions targeting Iran are scheduled for announcement impacting global trade partners. Oil shipments through the Strait of Hormuz have virtually halted as Iran maintains its leverage. Tehran criticizes the impending sanctions as an assertion of extraterritorial sovereignty over UN members. President Trump warns of economic consequences for any nation aiding Iran. Iran's economy faces significant strain despite military capabilities and calls for diplomacy.

22 Aug 2026 11:30 pm